Japan’s Sumitomo Mitsui Financial Group (SMFG) has doubled down on its Indian ambitions, injecting ₹3,000 crore into SMFG India Credit Co Ltd (SMICC) via a rights issue. This latest boost also earmarks ₹300 crore for SMICC’s home finance arm, SMFG Grihashakti, as part of its push to expand operations. This isn’t SMFG’s first show of confidence this year—back in April, it had already infused ₹1,300 crore into SMICC. With this fresh round, 2024’s total capital infusion now stands at a record-breaking ₹4,300 crore, making it SMICC’s highest-ever annual fund raise since its inception. The timing aligns with SMICC’s strong momentum, as its Assets Under Management (AUM) hit ₹49,800 crore as of September 2024, marking a solid 25.1% year-on-year growth. The added funds are expected to bolster the company’s Capital Adequacy Ratio (CAR), further reinforcing its financial resilience. For SMFG, this move is more than just a balance-sheet play—it’s a commitment to deepening financial inclusion in India and riding the wave of the nation’s growing credit appetite. With its focus firmly set on growth, SMICC is shaping up as a key player in India’s financial services landscape.